Liverpool were set to win the race to sign Rennes defender Jeremy Jacquet on a quiet final day of the Premier League transfer window, while Crystal Palace swooped for Wolves striker Jorgen Strand Larsen despite the collapse of Jean-Philippe Mateta's move to AC Milan.
The Reds reportedly agreed a fee of up to £60 million ($82 million) for the highly-rated Jacquet before the window closed at 1900 GMT.
But the 20-year-old will not join the Premier League champions until the summer despite Liverpool's need for defensive reinforcements.
Jacquet had been linked with a transfer to Chelsea earlier this month but was reportedly put off the move by the competition for places at centre-back in the Blues' bloated squad.
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Liverpool, by contrast, are desperately short on centre-back options.
Virgil van Dijk, 34, and Ibrahima Konate, who is out of contract at the end of the season, are the only two options currently available to Arne Slot, with Joe Gomez and Giovanni Leoni sidelined by injury.
French under-21 international Jacquet has only made 31 appearances for Rennes, but Liverpool will reportedly pay an initial £55 million with a further £5 million contingent on add-ons.
On a day of few noteworthy moves, Palace completed the club-record £48 million signing of Norway forward Strand Larsen on a four and a half year contract
Palace moved for Strand Larsen after believing Mateta was about to leave the club.
The France striker was left out of Palace's squad for their Premier League draw at Nottingham Forest on Sunday, in anticipation of a transfer to AC Milan.
Mateta's proposed switch to Serie A fell through on Monday after medical concerns over a knee injury, but Palace still brought in Strand Larsen.
"AC Milan requested further tests on his knee, and they did not provide the necessary assurances to finalise the transfer," a source told AFP.
"The decision had been made to bring his arrival forward by six months. The move has now been abandoned."
Chelsea recalled Mamadou Sarr from his loan spell at Strasbourg to be reunited with Blues boss Liam Rosenior.
Sarr, 20, was Rosenior's captain at Strasbourg after he joined the French club on loan last year.
Rosenior was hired as Chelsea boss to replace Enzo Maresca in January.
Senegal centre-back Sarr made 18 appearances for Strasbourg and has played just once for Chelsea, appearing off the bench against Esperance at the Club World Cup in July.
Chelsea defender Axel Disasi is due to have a medical at West Ham ahead of moving to the London Stadium on loan for the rest of the season.
The 27-year-old had been training separately from the Blues' first team for most of this season and last played for Chelsea in January 2025.
Manchester City midfielder Kalvin Phillips joined Championship side Sheffield United on loan for the rest of the season.
Phillips, who last played for England in 2023, has featured for City just once this season, as a late substitute in their League Cup win at Huddersfield in September.